#9 Hearst family

#9 Hearst family

2016 America's Richest Families NET WORTH

$28B

as of 6/29/16

Media giant Hearst Corp. traces its roots to William Randolph Hearst (pictured above with two of his children), the son of a successful miner, who became proprietor of The San Francisco Examiner at age 24 in 1887. He went on to acquire additional newspapers before entering into radio broadcasting and television. In 1902, Hearst turned to politics and became a New York Congressman. His son, William Randolph Hearst Jr., became a Pulitzer Prize-winning journalist. His grandson William R. Hearst III now chairs the modern day Hearst Corp., which owns 46 newspapers, 340 magazines around the globe and valuable stakes in cable TV channels ESPN, Lifetime and A&E. Under the leadership of CEO Steven Swartz, Hearst Corp., with $10 billion in revenues, has invested in new cable channel, VICELAND and bought a majority stake in medical software firm MedHOK. Over the years, the family endured various scandals, from the kidnapping of Patty Hearst by a leftist guerrilla in the 1970s, to an acrimonious divorce between the late John R. "Bunky" Hearst Jr. and his wife Barbara. The fortune is shared among 67 family members.

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